Want to be in the loop?
subscribe to
our notification
Business News
HCM CITY DEVELOPS SEAPORT SYSTEM
According to Chairman of the municipal People's Committee Le Hoang Quan, the city's seaports handled 109 million tonnes of cargo and generated over VND15 trillion (US$705 million) in 2014, an annual rise of 15.3 percent.
The outcomes were attributable to the city's investment in key transport infrastructure projects.
The completion of the second phase of the Soai Rap dredging project is an example. The project worth VND 2.8 trillion ($131.5 million) was commissioned in late June 2014, enabling faster navigation and handling 30,000-50,000 dead weight tonnage ships.
The total volume of goods transported via the river in 2014 reached 7.2 million tonnes, a yearly increase of 16 percent.
The Saigon New Port company manages 16 ports, including two inland container depots (ICD) from the south to the north. The Cat Lai port in District 2 is listed in the top 34 modern and big container ports in the world.
According to the national seaport development plan through 2020, HCM City is the southeast region's key port with functional wharf areas of Hiep Phuoc on Soai Rap River and Cat Lai on Dong Nai River .
The region's seaports are expected to handle 185-200 million tonnes of cargo in 2015, 265-305 million tonnes in 2020, and 495-650 million tonnes in 2030.
Le Hoang Minh, Deputy Director of the municipal Department of Transport, said the city is relocating Saigon New Port , Ba Son shipyard, Nha Rong-Khanh Hoi port, Vegetable port and Tan Thuan Dong Port on the Saigon River .
HCM City is planning 2,000 hectares for the construction of the Hiep Phuoc urban industrial complex along the Soai Rap River which could welcome 50,000-70,000 dead weight tonnage ships from the East Sea to the Hiep Phuoc seaports cluster, reducing transport time and increasing goods exchanges between the city and Mekong Delta localities as well as other industrial hubs in the southeast region.
Apart from investing in developing the seaports system in Cat Lai and Hiep Phuoc regions, the city is focusing on connecting the land and waterway transport networks such as belt roads No. 2, 3 and 4 linking the city with the Hiep Phuoc port and industrial park, the HCM City-Long Thanh-Dau Giay highway, and the Ben Luc-Long Thanh highway.
The city will also build a railway connecting Hiep Phuoc port with Long Dinh station in Can Duoc district and Long An international port in Can Giuoc district.
Source: VIR
Related News
EXPLORE HONG KONG WITH A COMPANION
From now until 19 August 2024, you can enjoy our exclusive Fly 2 Hong Kong offer on round-trip Economy flights from USD364^ for 2 persons, sponsored by Hong Kong International Airport. Bring along a travel buddy and experience together the excitement and charm of our vibrant home city.
BUSINESSES INCREASE WISHES FOR SPECIALISED INDUSTRIAL PARKS
Data centres, industrial parks (IPs) reserved for high-tech production, and parks serving Chinese, the United States, Taiwanese, or Japanese investors are gradually being formed to welcome new funding waves, according to Truong An Duong, general manager of North Vietnam and Residential at Frasers Property Vietnam.
VIETNAM’S H1 ECONOMIC GROWTH QUITE IMPRESSIVE: ADB COUNTRY DIRECTOR
Country Director of the Asian Development Bank (ADB) for Vietnam Shantanu Chakraborty has expressed his impression of the Southeast Asian nation’s economic growth of 6.4 per cent in the first half of this year. The growth was mainly driven by strong trade recovery, where export grew by 14.5 per cent and import by 17 per cent over last year, he told the Vietnam News Agency. However, he said, the domestic segment remained sluggish.
REAL ESTATE FIRMS AGGRESSIVELY RESTRUCTURING BOND DEBT
From the start of 2024 to July 5, the market saw 133 private placements and ten bond public offerings, totalling over VNĐ140 trillion. 65.6 per cent of this value was from the banking sector, while real estate bonds accounted for only 24.6 per cent, or over VNĐ34.5 trillion.
GOV’T UNVEILS ACTION PLAN TO ACCELERATE INDUSTRIALISATION
Vietnam aspires to become among the top three industrial powerhouses in ASEAN, with the industrial sector contributing over 40 per cent to GDP. The manufacturing and processing sector is expected to account for around 30 per cent of GDP, with a strong emphasis on high-tech products aiming for over 45 per cent of the sector's value. To further drive the economy, the service sector is projected to contribute over 50 per cent to GDP, with tourism alone generating 14-15 per cent.
VIỆT NAM TARGETS FULL MOBILE BROADBAND COVERAGE ON HIGHWAYS, INDUSTRIAL ZONES BY 2025
By 2025, Việt Nam aims to achieve one hundred per cent mobile broadband coverage on all national highways, expressways and railways under a plan to enhance the quality of Việt Nam’s mobile telecommunications network by 2025, which has been approved by the Ministry of Information and Communications (MIC).